Indian pipemaker Jindal SAW posts $31.9 million net income in Q2 2010

Indian pipemaker Jindal SAW Ltd has issued its financial results for the second quarter of 2010 or the first quarter of the Indian financial year.
 
Net income was Rupees 1.51 billion ($31.9 million) in the three months ended June 30, compared with a net income of Rupees 1.36 billion a year earlier, increasing by 11.1 percent. The company also pointed out that its net sales decreased by 24.35 percent to Rupees 11.4 billion ($240.7 million) from Rupees 15 billion in the corresponding period of 2009.